Enactment of the Act on Promotion of a Smooth Transition to a Decarbonized Growth-Oriented Economic Structure

On May 12, 2023, the “Act on Promotion of a Smooth Transition to a Decarbonized Growth-Oriented Economic Structure” (hereinafter referred to as the “GX Promotion Act”) was passed and enacted by an ordinary session of the Diet. The Act will take effect within three months from the date of its promulgation (Article 1 of the Supplementary Provisions).